Latest credit data released by the Bank of England - 1 October 2018
- Prior 64.8k; revised to 65.2k
- Net consumer credit £1.1 bn vs £1.3 bn expected
- Prior £0.8 bn
- Net lending secured on dwellings £2.9 bn vs £3.5 bn expected
- Prior £3.2 bn; revised to £3.0 bn
- M4 money supply +0.2% vs +0.9% m/m prior
- M4 money supply +1.2% vs +2.1% y/y prior
- M4 ex IOFCs annualised +0.9% vs +3.5% prior
Consumer credit nears a 3-year low while mortgage approvals rise in August. Consumer credit growth slowed down to +8.1% y/y compared to the +8.5% y/y reading in July and that's the slowest growth since September 2015.
Nothing else of note from the release here. But the slowing consumer credit growth is certainly something worth watching out for moving forward.
